ETHENA
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#ETHENA Ethena Labs Updates Airdrop Criteria and Launches Second Season Event
Ethena Labs adjusted the April 2nd airdrop criteria to include Milady Maker NFT holders, alongside SchizoPosters and Redacted Remilio Babies. The snapshot was taken on March 26th. Additionally, they announced the launch of the second season event Sats, which will integrate BTC as a supporting asset and last for 5 months or until the USDe supply reaches $5 billion.
✅@Money
#ETHENA Ethena Labs Updates Airdrop Criteria and Launches Second Season Event
Ethena Labs adjusted the April 2nd airdrop criteria to include Milady Maker NFT holders, alongside SchizoPosters and Redacted Remilio Babies. The snapshot was taken on March 26th. Additionally, they announced the launch of the second season event Sats, which will integrate BTC as a supporting asset and last for 5 months or until the USDe supply reaches $5 billion.
✅@Money
Is #ETHENA ($ENA ) worth the investment?
Basically, the Ethena protocol on Ethereum platform is almost the same with #ETHFI but they differ in terms of profitability and usability. The most basic similarity is that they both allow you to stake $ETH and earn interest.
As their slogan implies, Ethena is building a totally new concept of internet money that is not pegged to the US Dollar or the traditional banking system that is prone to censorship. So USDe is not backed up by fiat, unlike USDT. Instead it is backed up by spot assets which makes USDe scalable (by using multiple derivatives), stable (through hedging of collaterals), and censorship resistant (by not depending on the banking system and by storing backing assets outside the centralized liquidity venues).
The main advantage of USDe is it allows you to have access to a "synthetic" dollar which is different from existing stablecoins backed up by USD. You can have a virtual dollar savings account which yields high interest without having to go through the traditional banking system. That's why they call it an "internet bond", which converts ETH into a stable form of internet money. This in turn can function similarly with stablecoins as transactional money (for online payments) and as stable store of value but generates higher yields.
So where does $ENA come into place?
$ENA is simply their utility coin which will be used for voting, governance and so on, which is not in anyway related to USDe.
Currently the price of $ENA is approximately $0.70 so its listing price on Binance can go from $1 to $3 which is a very good return for your staked $BNB or $FDUSD.
Is it worth buying once listed?
I think so. If you look at the performance of ETHFI it could well follow same route. However, as I mentioned in my previous post about ETHFI that it can drop to $2+ (which it did) but can go back up because the timing was perfect when BTC was just about to recover. So it pumped up along with BTC.
If BTC will not fall back after listing of ENA, it could then pump above $3.
Follow me for more insights.
Basically, the Ethena protocol on Ethereum platform is almost the same with #ETHFI but they differ in terms of profitability and usability. The most basic similarity is that they both allow you to stake $ETH and earn interest.
As their slogan implies, Ethena is building a totally new concept of internet money that is not pegged to the US Dollar or the traditional banking system that is prone to censorship. So USDe is not backed up by fiat, unlike USDT. Instead it is backed up by spot assets which makes USDe scalable (by using multiple derivatives), stable (through hedging of collaterals), and censorship resistant (by not depending on the banking system and by storing backing assets outside the centralized liquidity venues).
The main advantage of USDe is it allows you to have access to a "synthetic" dollar which is different from existing stablecoins backed up by USD. You can have a virtual dollar savings account which yields high interest without having to go through the traditional banking system. That's why they call it an "internet bond", which converts ETH into a stable form of internet money. This in turn can function similarly with stablecoins as transactional money (for online payments) and as stable store of value but generates higher yields.
So where does $ENA come into place?
$ENA is simply their utility coin which will be used for voting, governance and so on, which is not in anyway related to USDe.
Currently the price of $ENA is approximately $0.70 so its listing price on Binance can go from $1 to $3 which is a very good return for your staked $BNB or $FDUSD.
Is it worth buying once listed?
I think so. If you look at the performance of ETHFI it could well follow same route. However, as I mentioned in my previous post about ETHFI that it can drop to $2+ (which it did) but can go back up because the timing was perfect when BTC was just about to recover. So it pumped up along with BTC.
If BTC will not fall back after listing of ENA, it could then pump above $3.
Follow me for more insights.
🚀💥 Curious About Binance's Latest Launchpool Gem $ETHENA? Dive into the Deets! 🔍
Wondering about #ETHENA (ENA)? It's a decentralized finance protocol buzzing on Ethereum's blockchain, featuring a synthetic dollar named USDe. Despite its market cap sitting at a modest $85 million, its current USD value stands at a staggering $1.3 million!
ETHENA's synthetic dollars (USDe) offer investors fixed income, guarding their Lido STETH-style betting tokens. Plus, these tokens aim to stabilize at $1 by balancing long-term short Ether positions on derivative exchanges.
On April 2, 2024, at 08:00 (UTC), Binance will roll out ENA, with trading pairs including ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY. This move highlights Binance's dedication to enhancing liquidity and accessibility in the crypto realm, offering investors diverse avenues to engage with budding assets like ENA.
🔍 Ethena (ENA) Launch Pool: All You Need to Know!
#Binance has unpacked Ethena's Launch Pool, shedding light on crucial aspects like token supply, rewards, and betting conditions. Notably, the maximum token supply caps at 15,000,000,000 ENA, with a hefty 300,000,000 ENA reserved for Launchpool token rewards, constituting 2% of the total token supply.
Of significance is the initial circulating supply of 1,425,000,000 ENA, making up 9.5% of the maximum coin supply. Operating on Ethereum's blockchain, Ethena integrates betting conditions mandating Know-Your-Customer (KYC) verification, ensuring regulatory compliance, and boosting user security.
Excited about #BinanceLaunchpool ? Don't miss out on Binance's Launchpool frenzy! 🚀🔥
#Binance #Earn2Write #HotTrends
Wondering about #ETHENA (ENA)? It's a decentralized finance protocol buzzing on Ethereum's blockchain, featuring a synthetic dollar named USDe. Despite its market cap sitting at a modest $85 million, its current USD value stands at a staggering $1.3 million!
ETHENA's synthetic dollars (USDe) offer investors fixed income, guarding their Lido STETH-style betting tokens. Plus, these tokens aim to stabilize at $1 by balancing long-term short Ether positions on derivative exchanges.
On April 2, 2024, at 08:00 (UTC), Binance will roll out ENA, with trading pairs including ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY. This move highlights Binance's dedication to enhancing liquidity and accessibility in the crypto realm, offering investors diverse avenues to engage with budding assets like ENA.
🔍 Ethena (ENA) Launch Pool: All You Need to Know!
#Binance has unpacked Ethena's Launch Pool, shedding light on crucial aspects like token supply, rewards, and betting conditions. Notably, the maximum token supply caps at 15,000,000,000 ENA, with a hefty 300,000,000 ENA reserved for Launchpool token rewards, constituting 2% of the total token supply.
Of significance is the initial circulating supply of 1,425,000,000 ENA, making up 9.5% of the maximum coin supply. Operating on Ethereum's blockchain, Ethena integrates betting conditions mandating Know-Your-Customer (KYC) verification, ensuring regulatory compliance, and boosting user security.
Excited about #BinanceLaunchpool ? Don't miss out on Binance's Launchpool frenzy! 🚀🔥
#Binance #Earn2Write #HotTrends
🚀 Market Momentum Update 🚀
ETHENA
In an impressive leap forward, the price of ENA soared by 62% within just a day!
But Why the Surge?
🌟 The surge is primarily driven by a burgeoning interest in its yield-farming feature, particularly after the unveiling of its governance token, ENA.
💥 Adding to the excitement, the buzz around a hefty $600 million investment proposal by MakerDAO in DAI – allocated to USDe and staked USDe (sUSDe) through the DeFi lending powerhouse, Morpho Labs – has only intensified the frenzy.
#CryptoSurge #ETHENA #YieldFarming #DeFiInvestment #MarketMomentum
ETHENA
In an impressive leap forward, the price of ENA soared by 62% within just a day!
But Why the Surge?
🌟 The surge is primarily driven by a burgeoning interest in its yield-farming feature, particularly after the unveiling of its governance token, ENA.
💥 Adding to the excitement, the buzz around a hefty $600 million investment proposal by MakerDAO in DAI – allocated to USDe and staked USDe (sUSDe) through the DeFi lending powerhouse, Morpho Labs – has only intensified the frenzy.
#CryptoSurge #ETHENA #YieldFarming #DeFiInvestment #MarketMomentum
$BNB price suddenly dropped which makes a lot of people speculate and spread FUD. Here's what you should do.
First, the drop was not caused by #ETHENA farmers liquidating their BNB. Instead it was basically caused by $BTC price drop. The $ENA farming is not yet over, so stakers haven't unstaked their BNB yet.
Don't panic and don't sell your BNB. You can either use your BNB to buy ENA once listed and wait for it to pump, then sell your ENA to increase your BNB holdings.
You can also just hold your BNB (stake it in BNB Vault for an hourly interest) and wait for the next Launchpool or Launchpad project. The price of BNB will surely pump again on the next farming.
Follow me for more tips.
First, the drop was not caused by #ETHENA farmers liquidating their BNB. Instead it was basically caused by $BTC price drop. The $ENA farming is not yet over, so stakers haven't unstaked their BNB yet.
Don't panic and don't sell your BNB. You can either use your BNB to buy ENA once listed and wait for it to pump, then sell your ENA to increase your BNB holdings.
You can also just hold your BNB (stake it in BNB Vault for an hourly interest) and wait for the next Launchpool or Launchpad project. The price of BNB will surely pump again on the next farming.
Follow me for more tips.
#ENA #ETHENA
ENA Airdrop and Season 2: Sats Campaign
Ethena Labs launches Sats, its second season campaign, featuring BTC alongside Ethen. The campaign runs for five months or until USDe supply hits $5 billion. New partnerships include MakerDAO, Morpho, Mantle, Pendle, and EigenLayer Points, with additional Pendle pools. USDe Pendle pool on ETH L1 reopens April 2nd.
✅@Money
ENA Airdrop and Season 2: Sats Campaign
Ethena Labs launches Sats, its second season campaign, featuring BTC alongside Ethen. The campaign runs for five months or until USDe supply hits $5 billion. New partnerships include MakerDAO, Morpho, Mantle, Pendle, and EigenLayer Points, with additional Pendle pools. USDe Pendle pool on ETH L1 reopens April 2nd.
✅@Money
A deep dive into Ethena (ENA) "The Internet Bond"
Ethena has picked up some serious traction in its short existence with over $1.4 Billion in market cap. Many users have been drawn in by the rather incredible stated 35.4% yields available on their stablecoin USDe
After the incredible success of Ethena USDe the company is now coming up with their governance token #ETHENA ( ENA) . They are set to airdrop 750 million ENA tokens, 5% of the total supply and 2% of the supply will be given out via Binance launchpool. Now lets dive into what is ENA and how you can farm some free tokens.
What is Ethena?
Ethena is a synthetic dollar protocol that aims to provide crypto investors with dollar-denominated savings based on blockchain. The team calls this savings product the “Internet Bond.” The protocol’s primary synthetic asset, USDe, is meant to achieve 1-to-1 price parity with the US dollar by delta-hedging staked Ethereum collateral.
How Ethena generate 35.4% yield?
According to the whitepaper, the Internet Bond generates yield in two ways
Delta hedging of derivatives positions against ETH held by the protocol ensures USDe’s pegThe Internet Bond combines yields collected from staked ETH and “the funding & basis spread from perpetual and futures' markets.”
How Does Ethena Protocol Work?
Ethena holds stETH and issues USDe 1:1, with that stETH as collateral. They also hold short positions on ETH which means that they make money when ETH goes down. This protects the collateral. They also earn a funding rate on their short position which is their reward for holding options that are shorting the market when the general market is going long. They pass along that yield from the funding rate and the native yield from the stETH to USDe holders in the form of yield.
ENA token use cases
As i am writing about the ENA token not their stable coin. At the time of writing, it’s not exactly clear what the role of the ENA token will be. In my opinion, and given its similarity to some other protocols in the market, the most likely use case will likely be governance-oriented.
If that is indeed the case, ENA could be used to Allow holders to participate in governance decisions, such as
Deciding on the extent of USDe staking rewardsThe ratio of futures and options contracts used for delta-hedging, and similar.
My Opinion About the project
Looking at how good the marketcap of Ethena stable coin is , The annual yield they are offering , The total value locked is $1.5 billion which is huge and looking at their userbase the project looks great.
But i personally do not like the fact that their yield is coming from hedging/ shorting Eth and from positive funding rates on Ethereum. When the funding rates are positive traders who are shorting the market will receive the funding fee from exchanges for holding their positions.
However, the biggest risk here comes in the form of a sustained negative funding rate on ETH. Since Ethena needs to hedge with short positions on ETH to maintain a stable USDe price, if there was a prolonged period of negative funding rates, Ethena would begin to bleed money.
The other risk I want to discuss is the difficulty in maintaining derivative positions across multiple exchanges and managing those positions in real-time. What if there was a massive price movement? I know some of these positions are managed by automated systems, but…in a black swan event…what if Ethena could not exit their positions fast enough and got liquidated?
So there are few if's that comes within their strategy to make yield for the stakers.
How to earn ENA tokens on Binance Launchpool
Binance launchpools are absolutely free money for the holders of BNB and FDUSD. Since it's the free money and you can't lose anything in it so you can participate in the binance launchpool.
You’ll need some BNB or FDUSD tokens to stake.
head over to the menu on the top side of the Binance interface and select "More". Then, go to "Launchpad & Launchpool".
Then, find the available Ethena farming pools. Depending on which tokens you want to stake, select the FDUSD Pool or BNB Pool. Then, follow the instructions provided by the exchange.
The farming period for ENA i: 2024-03-30 00:00 (UTC) to 2024-04-01 23:59 (UTC). You can use this link for a quick view.
Farm ENA with BNB or FDUSD 👈
My price prediction at the time when ENA trading will start
The most recent launchpads on binance were launched with an average marketcap of $380-$450 million
if ETHENA (ENA) launched with the same average marketcap i think it will be launched at a price range of $0.25 - $0.35
ENA Tokenomics and token rewards for stakers
Token Name: Ethena (ENA)Max Token Supply: 15,000,000,000 ENAInitial Circulating Supply: 1,425,000,000 ENA (9.5% of max token supply)
As a final note, here’s a quick breakdown of key dates and information about the Ethena Launchpool campaign:
I hope you find this article informative and read my thoughts on
#ENALAUNCHPOOL
You can use these links to get more details about it.
Binance Announcement:
https://www.binance.com/en/support/announcement/introducing-ethena-ena-on-binance-launchpoolfarm-ena-by-staking-bnb-and-fdusd-6c216f219f0e42adb1849759dee3fbd9
Website:: https ://www.ethena.fi/
Whitepaper: https ://ethena-labs.gitbook.io/ethena-labs/
X: https ://twitter.com/ethena_labs
Discord: https ://discord.gg/QqgVaUmM
Telegram: https ://t.me/ethena_labs
After the incredible success of Ethena USDe the company is now coming up with their governance token #ETHENA ( ENA) . They are set to airdrop 750 million ENA tokens, 5% of the total supply and 2% of the supply will be given out via Binance launchpool. Now lets dive into what is ENA and how you can farm some free tokens.
What is Ethena?
Ethena is a synthetic dollar protocol that aims to provide crypto investors with dollar-denominated savings based on blockchain. The team calls this savings product the “Internet Bond.” The protocol’s primary synthetic asset, USDe, is meant to achieve 1-to-1 price parity with the US dollar by delta-hedging staked Ethereum collateral.
How Ethena generate 35.4% yield?
According to the whitepaper, the Internet Bond generates yield in two ways
Delta hedging of derivatives positions against ETH held by the protocol ensures USDe’s pegThe Internet Bond combines yields collected from staked ETH and “the funding & basis spread from perpetual and futures' markets.”
How Does Ethena Protocol Work?
Ethena holds stETH and issues USDe 1:1, with that stETH as collateral. They also hold short positions on ETH which means that they make money when ETH goes down. This protects the collateral. They also earn a funding rate on their short position which is their reward for holding options that are shorting the market when the general market is going long. They pass along that yield from the funding rate and the native yield from the stETH to USDe holders in the form of yield.
ENA token use cases
As i am writing about the ENA token not their stable coin. At the time of writing, it’s not exactly clear what the role of the ENA token will be. In my opinion, and given its similarity to some other protocols in the market, the most likely use case will likely be governance-oriented.
If that is indeed the case, ENA could be used to Allow holders to participate in governance decisions, such as
Deciding on the extent of USDe staking rewardsThe ratio of futures and options contracts used for delta-hedging, and similar.
My Opinion About the project
Looking at how good the marketcap of Ethena stable coin is , The annual yield they are offering , The total value locked is $1.5 billion which is huge and looking at their userbase the project looks great.
But i personally do not like the fact that their yield is coming from hedging/ shorting Eth and from positive funding rates on Ethereum. When the funding rates are positive traders who are shorting the market will receive the funding fee from exchanges for holding their positions.
However, the biggest risk here comes in the form of a sustained negative funding rate on ETH. Since Ethena needs to hedge with short positions on ETH to maintain a stable USDe price, if there was a prolonged period of negative funding rates, Ethena would begin to bleed money.
The other risk I want to discuss is the difficulty in maintaining derivative positions across multiple exchanges and managing those positions in real-time. What if there was a massive price movement? I know some of these positions are managed by automated systems, but…in a black swan event…what if Ethena could not exit their positions fast enough and got liquidated?
So there are few if's that comes within their strategy to make yield for the stakers.
How to earn ENA tokens on Binance Launchpool
Binance launchpools are absolutely free money for the holders of BNB and FDUSD. Since it's the free money and you can't lose anything in it so you can participate in the binance launchpool.
You’ll need some BNB or FDUSD tokens to stake.
head over to the menu on the top side of the Binance interface and select "More". Then, go to "Launchpad & Launchpool".
Then, find the available Ethena farming pools. Depending on which tokens you want to stake, select the FDUSD Pool or BNB Pool. Then, follow the instructions provided by the exchange.
The farming period for ENA i: 2024-03-30 00:00 (UTC) to 2024-04-01 23:59 (UTC). You can use this link for a quick view.
Farm ENA with BNB or FDUSD 👈
My price prediction at the time when ENA trading will start
The most recent launchpads on binance were launched with an average marketcap of $380-$450 million
if ETHENA (ENA) launched with the same average marketcap i think it will be launched at a price range of $0.25 - $0.35
ENA Tokenomics and token rewards for stakers
Token Name: Ethena (ENA)Max Token Supply: 15,000,000,000 ENAInitial Circulating Supply: 1,425,000,000 ENA (9.5% of max token supply)
As a final note, here’s a quick breakdown of key dates and information about the Ethena Launchpool campaign:
I hope you find this article informative and read my thoughts on
#ENALAUNCHPOOL
You can use these links to get more details about it.
Binance Announcement:
https://www.binance.com/en/support/announcement/introducing-ethena-ena-on-binance-launchpoolfarm-ena-by-staking-bnb-and-fdusd-6c216f219f0e42adb1849759dee3fbd9
Website:: https ://www.ethena.fi/
Whitepaper: https ://ethena-labs.gitbook.io/ethena-labs/
X: https ://twitter.com/ethena_labs
Discord: https ://discord.gg/QqgVaUmM
Telegram: https ://t.me/ethena_labs
As ENA is coming on binance, Here is everything you need to know about the project. I also made a price prediction when the trading will start, so give it a read.
After the incredible success of Ethena USDe the company is now coming up with their governance token #ETHENA ( ENA) .
** What is Ethena ? **
Ethena is a protocol that offers a dollar-denominated savings product called the "Internet Bond" through blockchain. It achieves price parity with the US dollar using the synthetic asset USDe and Ethereum collateral.
**How Ethena generates yield?**
Ethena generates a 35.4% yield through delta hedging of derivatives positions against ETH and the combination of yields from staked ETH and funding/basis spreads from perpetual and futures markets.
**My Opinion About the project **
Looking at how good the marketcap of Ethena stable coin is , The annual yield they are offering , The total value locked is $1.5 billion which is huge and looking at their user base the project looks great.
Also they have a Stable coin with a $1.4 billion marketcap already. So somehow the project is already developed.
If we see how ETHFI performed well last week. ENA is the same category coin "LSD"
There is an ongoing hype of Ethereum ETF, If ETH gets the approval. Ethereum based LSD's may also take advantage.
But as always i do not recommend buying coins right after the launch. Observe the price first for a few days and also see the marketcap at the time of launh.
**My price prediction at the time when trading will start**
Based on the average marketcap of recent Binance launchpads, the predicted price range for ENA at launch would be $0.25 - $0.35.
Ethena is still available to farm if you're interested in farming some free coins using your BNB or FDUSD , you can use this link to farm
Farm ENA with BNB or FDUSD 👈🏻
At what price do you think ENA will launch?
#ENALAUNCHPOOL
After the incredible success of Ethena USDe the company is now coming up with their governance token #ETHENA ( ENA) .
** What is Ethena ? **
Ethena is a protocol that offers a dollar-denominated savings product called the "Internet Bond" through blockchain. It achieves price parity with the US dollar using the synthetic asset USDe and Ethereum collateral.
**How Ethena generates yield?**
Ethena generates a 35.4% yield through delta hedging of derivatives positions against ETH and the combination of yields from staked ETH and funding/basis spreads from perpetual and futures markets.
**My Opinion About the project **
Looking at how good the marketcap of Ethena stable coin is , The annual yield they are offering , The total value locked is $1.5 billion which is huge and looking at their user base the project looks great.
Also they have a Stable coin with a $1.4 billion marketcap already. So somehow the project is already developed.
If we see how ETHFI performed well last week. ENA is the same category coin "LSD"
There is an ongoing hype of Ethereum ETF, If ETH gets the approval. Ethereum based LSD's may also take advantage.
But as always i do not recommend buying coins right after the launch. Observe the price first for a few days and also see the marketcap at the time of launh.
**My price prediction at the time when trading will start**
Based on the average marketcap of recent Binance launchpads, the predicted price range for ENA at launch would be $0.25 - $0.35.
Ethena is still available to farm if you're interested in farming some free coins using your BNB or FDUSD , you can use this link to farm
Farm ENA with BNB or FDUSD 👈🏻
At what price do you think ENA will launch?
#ENALAUNCHPOOL
